Hornbach-Baumarkt-AG Group

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142 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Other Disclosures (32) Supplementary disclosures on financial instruments The following tables show the carrying amounts of the financial instruments in each IAS 39 measurement category, and their fair values broken down by balance sheet category: € 000s Category Carrying Fair value Carrying Fair value amount amount 2.28.2013 2.28.2013 2.29.2012 2.29.2012 Assets Financial assets AfS 1,278 1,278 1,229 1,229 Other receivables and assets Derivatives without hedge relationship FAHfT 146 146 2 2 Other financial assets LaR 37,780 37,780 45,941 45,941 Cash and cash equivalents LaR 317,178 317,178 404,250 404,250 Equity and liabilities Financial debt Bonds FLAC 245,794 259,500 247,080 264,375 Liabilities to banks FLAC 128,493 129,515 177,699 179,023 Liabilities in connection with finance leases n.a. 1,282 1,314 1,474 1,556 Derivatives with hedge relationship n.a. 6,267 6,267 5,284 5,284 Derivatives without hedge relationship FLHfT 227 227 368 368 Trade payables and other liabilities FLAC 210,238 210,238 206,044 206,044 Accrued liabilities FLAC 15,284 15,284 18,570 18,570 Aggregate totals by measurement category: Category Carrying amount Carrying amount € 000s 2.28.2013 2.29.2012 Loans and receivables LaR 354,958 450,191 Available for sale financial assets AfS 1,278 1,229 Financial assets held for trading FAHfT 146 2 Financial liabilities measured at amortized cost FLAC 599,808 649,393 Financial liabilities held for trading FLHfT 227 368 Derivative financial instruments have been recognized at fair value in the balance sheet. Fair value measurement has been based on input factors observable on markets and thus corresponds to Level 2 of the fair value hierarchy as defined in IFRS 7. Cash and cash equivalents, financial assets held for sale, other financial assets, accrued liabilities, trade payables, and other liabilities mature in the short term in the majority of cases. Their carrying amounts therefore approximate to their fair values as of the balance sheet date. The fair value of the publicly listed bond corresponds to the nominal value multiplied by the market value at the balance sheet date.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Other Disclosures 143 The fair values of the liabilities to banks and the finance lease liabilities have been calculated as present values. The present values of financial assets and liabilities have been calculated based on current money market interest rates, taking due account of their maturity structure and the respective credit margin. Net result by measurement category 2012/2013 2011/2012 € 000s € 000s Loans and receivables (LaR) (619) (1,090) Financial instruments held for trading (FAHfT and FLHfT) (54) 406 Financial liabilities measured at amortized cost (FLAC) (501) (2,054) The net results of the measurement category “financial instruments held for trading” are attributable to derivative financial instruments. The net results of the measurement categories “loans and receivables” and “financial liabilities measured at amortized cost” involve foreign currency translation items, the results of disposals and write-downs. (33) Risk management and financial derivatives Risk management principles The assets, liabilities and planned financial transactions of the HORNBACH-Baumarkt-AG Group are subject in particular to risks resulting from changes in exchange rates and interest rates. The aim of the company’s risk management is therefore to minimize these market risks by means of suitable financial market-based hedging activities. To achieve this aim, derivative financial instruments are deployed to limit interest rate and foreign currency risks. In general, however, the company only hedges those risks which could impact materially on its financial result. The necessary decisions may only be taken on the basis of the strategic requirements determined by the Chief Financial Officer. These requirements focus on hedging interest rate and foreign currency risks. Moreover, these requirements do not permit financial transactions to be undertaken for speculative purposes. Furthermore, certain transactions also require prior approval by the Supervisory Board. The treasury department regularly reviews and monitors the current and future interest charge and the foreign exchange requirements of the overall Group. The Board of Management is informed of its findings on a regular basis. Market risks For the presentation of market risks, IFRS 7.40 “Financial Instruments: Disclosures” requires the hypothetical impact on profit and loss and equity which would have resulted if those changes in the relevant risk variables (e.g. market interest rates or exchange rates) which could reasonably be assumed to be possible at the balance sheet date had actually materialized to be presented on the basis of sensitivity analyses. The market risks faced by the HORNBACH-Baumarkt-AG Group consist of foreign currency risks and interest rate risks. The company does not face any other price risks.
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Hornbach-Baumarkt-AG Group Annual R
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Key Group, Financial and Operating
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Time and Space Those are the dimens
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COMPANY PROFILE 7 Germany. The net
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10 TO OUR SHAREHOLDERS TO OUR SHARE
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12 REPORT OF THE SUPERVISORY BOARD
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14 REPORT OF THE SUPERVISORY BOARD
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16 DIRECTORS & OFFICERS DIRECTORS &
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The timesavers Got the internal fit
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CORPORATE GOVERNANCE 21 of its Boar
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CORPORATE GOVERNANCE 23 worked with
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CORPORATE GOVERNANCE 25 Dates of re
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CORPORATE GOVERNANCE 27 to a member
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30 THE HORNBACH-BAUMARKT SHARE THE
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32 THE HORNBACH-BAUMARKT SHARE Key
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The workhorses There’s one area o
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GROUP MANAGEMENT REPORT Macroeconom
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GROUP MANAGEMENT REPORT Asset Situa
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GROUP MANAGEMENT REPORT Risk Report
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GROUP MANAGEMENT REPORT Other Discl
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GROUP MANAGEMENT REPORT Outlook 75
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82 GROUP MANAGEMENT REPORT Outlook
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84 GROUP MANAGEMENT REPORT Outlook
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Getting organized Like perfectly ch
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CONSOLIDATED FINANCIAL STATEMENTS B
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Hornbach-Baumarkt-AG Group

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